Mazak Newsroom

February 2018

Employee Retention: A Proactive Approach to the Skills Gap

As of January 2018, the unemployment rate has steadily been at 4.1 percent in the United States according to a press release by the U.S. Bureau of Labor Statistics. The release also added that payroll employment has continued to rise for manufacturing, adding 186,000 jobs in the past 12 months. The quits rate is back to pre-recession peak of 2.2 percent. High employee turnover can reduce productivity, increase costs for businesses, and leave organizational goals unmet. With limited skilled workers, more jobs, and higher quit rates it makes it that much more important to keep the employees you have happy. With the current war on top talent, how do fabricators keep their top employees?

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January 2018

The Impact of the Trump Tax Reform

The last time the United States had a comprehensive tax revamp was in 1986. After 32 years, on December 22 the latest tax reform bill was made into law. There have been a many different views on the new law. But what it is important is how the bill affects your business. Here is a quick rundown on the benefits of the new law, opportunities and uncertainties.

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Perfect Machine for Future Opportunities

Uni-Structures, based in Kennesaw, Georgia fabricates drive-thru components to the quick-service restaurants (QSR) industry. Ultimately Uni-Structures was looking for something that would give them the capabilities they needed today, but would also allow for the most growth potential tomorrow. The Mazak OPTIPLEX NEXUS 3015 Fiber opened up so many more opportunities. They were able to consider what other products Uni-Structures could offer their customers. The laser cutting system has allowed them to get ahead and stay ahead.

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Hitting The Boom

According to the 2018 Construction Design Outlook webcast presented by ConstructConnect, the Associated General Contractors of America (AGC) and the American Institute of Architects (AIA), the forecast for construction in 2018 is expected to remain strong. Ken Simonson, chief economist with the AGC, is forecasting a 2 to 7 percent increase in construction spending for 2018. Since 2015, the construction industry has seen significant growth, and according to the joint forecast, it isn’t slated to slow down anytime soon. Looking back, construction spending through October 2017 totaled $917.0 billion, an increase of 4.3 percent over 2016. Furthermore, construction starts increased 7.9 percent over 2016, rising to $737.8 billion. Prescient Co. Inc., a technology and manufacturing company, is no exception. Offering a faster, greener and more cost-effective alternative to conventional building structures, the company is well positioned to see continued success in 2018. Brendan McDonough, business development director at Prescient, stated, “Our goal every year is to double in revenue, and 2018 is no different. We have continued to grow with the construction boom.”

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